China could announce targeted RRR cut as early as Friday - ANZ

ANZ analysts think China could announce targeted reserve requirement ratio (RRR) cut as early as Friday, Eunice Yoon, Beijing bureau chief, senior cor  |  26/02/2020 01:29

ANZ analysts think China could announce targeted reserve requirement ratio (RRR) cut as early as Friday, Eunice Yoon, Beijing bureau chief, senior correspondent at CNBC, tweeted a few minutes before press time. 

China's central bank assured markets earlier this week that it will adopt "dynamic adjustment" of targeted RRR cut policies in the near future for better use of inclusive financing to shore up the virus-hit economy, a PBOC official said on Monday, according to Xinhua. 

The world's second-largest economy is also expected to roll out CNY 500 billion ($71.4 billion) as loans for small and marginal enterprises (SMEs), according to state TV reports. Further, value-added tax (VAT) for 80 million home businesses employing 200 million people could be cut from 3% to 1%. 

 

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